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10/23/2003

Four companies report quarterly increases

The Daily Times-Call

THOUSAND OAKS, Calif. — Amgen reported a 54 percent increase in product sales during its most recent quarter.

For the third quarter of 2003, the biopharmaceutical giant reported revenue of $2.2 billion, compared with $1.5 billion during the same period in 2002.

Net income for the recent quarter was $612 million, or 46 cents per share, compared with a loss of $2.6 billion in the third quarter of last year — a loss primarily due to the one-time write-off associated with Amgen’s acquisition of former rival Immunex.

For the first three quarters of the year, Amgen reported net income of $1.7 billion, or $1.33 per diluted share, compared with a loss of $1.8 billion, or $1.67 per diluted share, during the same period last year.

Product sales during the most recent quarter increased 47 percent year-over-year in the United States, and 117 percent internationally.

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MILPITAS, Calif. — Maxtor reported increased revenues and income for the most recent quarter.

The disk maker reported net revenue of $1.06 billion for the third quarter, compared with $819 million for the same period last year. Net income for the quarter was $30 million, or 12 cents per diluted share. During the third quarter of last year, the company had a net income loss of $163 million, primarily associated with its purchase of Quantum’s Hard Disk Drive Group and restructuring charges associated with facilities closure.

“During the quarter we shipped a record 14.9 million hard disk drives,” said Paul Tefano, president and CEO, in a statement. “We exceeded the company’s guidance for revenue and non-GAAP net income, and we continued to make progress in key market segments.”

For the first nine months of the year, net income for Maxtor was $63.5 million, or 26 cents per diluted share, compared with a net income loss for the same period last year.

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LOUISVILLE — Storage Technology Corp. also reported growth for the most recent quarter. Revenue for the third quarter of 2003 was $520.3 million, compared with $501.7 million for the third quarter of last year.

Net income for the most recent quarter was $31 million, or 28 cents per diluted share, compared with $23.9 million, or 22 cents per diluted share, for the same period a year ago.

Revenues over the entire year are also up from a year ago. For the first nine months, StorageTek reports $1.53 billion in revenue, compared with $1.45 billion for the first three quarters last year.

Earnings-per-share for the first nine months was 70 cents, compared with 46 cents per diluted earnings per share during the period last year.

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SAN JOSE, Calif. — Programmable chipmaker Xilinx recently reported its best quarterly performance in three years.

Revenues for the second quarter of fiscal year 2004 were $315.5 million, compared with $277.9 million for the same quarter a year ago.

Net income for the quarter was $56.4 million, or 16 cents per diluted share, compared with $38.7 million, or 11 cents per diluted share, for the same period a year ago.

The company reports that for the quarter, both its operating margin and profit margin are at their highest levels since the third quarter of calendar year 2000.

“There are several data points now showing that enterprise spending is increasing,” Xilinx Chief Financial Officer Kris Chellam told the Reuters news agency.

For the first six months of fiscal year 2004, Xilinx reported net revenues of $628.8 million and net income of $102.6 million, or 29 cents per share. That compares with $567.7 million, $79.7 million, and 23 cents, respectively, a year ago.

The Longmont City Council recently gave Xilinx approval for its expansion plans on the southern end of the company’s property off the Diagonal Highway and Fordham Street.

The Xilinx campus here could eventually total 635,000 square feet and could accommodate nearly 3,000 employees.

Company officials have said the timing of expansion plans in Longmont will depend on the economy.